7 Ways to Increase Revenue at your Awards Show

Having produced many awards shows we have learnt to understand how critical multiple revenue streams are for our clients. We have also delivered - as well as seen others deliver - various concepts that help an organiser maximise revenue from multiple streams. Here we will outline 7 ways of gaining additional revenue from your awards show.

Awards shows offer prestige and credibility to companies that are shortlisted, associated with, and indeed win at the events. Association can be gained by companies buying into sponsor packages.

This article covers less than half of the revenue-gaining opportunities PYTCH can help clients with. Once we have partnered with an awards show organiser we work with them to maximise revenue and drive value for their sponsors in unique and creative ways that are most effective for their space.

1. HEADLINE SPONSOR

This possibly is the most valuable package that can be offered to a potential sponsor. A 'headline' sponsor package means that the company buying into it gets to name the event after themselves. For example a major brand may want to associate themselves with an awards show and present it as their event. A brand like Sony may want to take headline sponsorship and apparent ownership of the Photographer of the Year Awards in order to align their brand with photography at the highest level.

It would be inappropriate for an award nominee to take this package as it would undermine the objectivity of the awards show.

What does the sponsor get?

• Their name on all press, media and online content - anywhere that the awards show is mentioned
• Their logo and name on all printed media, marketing material and tickets
• Unique access to all other sponsors, guests and nominees for the event
• The credibility and prestige associated with the event

2. CATEGORY SPONSOR

A category is a section of an awards show for which there are shortlisted entries and a single winner. For example in the case of an awards show for "Best chocolate bar" there might be short listers of Mars Bar, Snickers and Twix.

A sponsor can associate their name with a category so this example category may become the "Tesco Best Chocolate Bar" or "Best Chocolate Bar Category sponsored by Tesco".

What does the sponsor get?

• Their name mentioned wherever this category is mentioned in pre and post event literature
• Their brand presence in prime position during this element of the awards show
• Sometimes (but not always) a representative of the company to present the award

3. RECEPTION DRINKS SPONSOR

The reception drinks are one of the best times to get a brand message delivered as people are most receptive at this point in the evening. Upon arrival most guests are looking to establish how the event will work, where to go and what to do. They may also not yet be with their friends and colleagues. As such they are more likely to engage with a brand message and the representatives of that brand.

The reception drinks sponsor would typically pay a fee that covers the cost of the drinks reception, all associated costs, and also presents a profit to the Awards Show Organiser.

What does the sponsor get?

• Their brand mentioned alongside any media that relates to the reception drinks
• Their brand message showed around the reception space through mediums such as print graphics, video screens, custom projection etc.
• An opportunity to have front of house 'meet and greet' staff
• An opportunity to add custom or feature items to the reception, such as specialist catering production features, performers etc.

4. AFTER-PARTY SPONSOR

The after-party can present similar value to the reception drinks as it allows the sponsor to be the centre of a sociable and fun environment. One of the main benefits of the after-party as a sponsor opportunity is that it lends itself to a greater level of networking, whereas during a reception people will tend to gravitate towards people that they know.

Also, an after party allows for more exciting production, performance, catering, and visual features - all of which can help drive value for the sponsor.

What does the sponsor get?

• Association with all content relating to the after party
• A space that is branded exclusively with their content and styling
• The chance to be the "cool guys" who create a memorable party
• An opportunity to align themselves with relaxed fun
• Food, drinks and other items custom made to reflect their brand (branded drinks menus and custom drinks can be good)

In some cases an after-party can even be treated as an exclusive "invitation only" event where the sponsor is able to select who comes; thus making an association with them more desirable. This tactic needs to be considered carefully so as to not alienate anyone.

5. CHILLOUT LOUNGE SPONSOR

A ‘chillout lounge’ is a secondary option when the reception and after-party sponsor packages are taken. A chillout lounge can be a place that is more relaxed, possibly quieter, less focused on partying and more focused on relationship building and discussing industry matters. This can be an appropriate option for more traditional companies or in sectors where there is less of a focus on partying.

What does the sponsor get?

• An exclusive space (that can be invitation only if required)
• A unique, refreshing and memorable experience for their clients and stakeholders to visit them in
• Their own demarcated space within the event space, or an adjacent space
• Custom decor, lighting and furnishings to make it a distinctly different space from the rest of the event
• Waiting and catering staff specially selected and uniformed to reflect their brand

6. FUNFAIR OR ALTERNATIVE ENTERTAINMENT SPONSOR

It is often the case that an awards show organiser may not wish to take on the additional cost of specialist entertainment as it does not increase ticket or other revenues. However this can be an excellent place for sponsors to add an extra dimension to an awards show. For example, a sponsor may be keen to pay for a ferris wheel, dodgems, or other entertainment for the guests to enjoy while being exposed to brand messages.

What does the sponsor get?

• A dedicated space that is associated with their name
• The chance to align themselves with a fun or interesting activity

7. TABLE DRESSING SPONSOR

As with alternative entertainment, there often is not a motivation for an awards show organiser to invest considerable resources into table decorations beyond a basic level. This makes table decoration an excellent space for sponsors to support.

SOME GENERAL ADVICE

With multiple sponsor opportunities at an awards show there is always a risk of sponsors being frustrated with their brand appearing next to that of their rivals. To mitigate this dissatisfaction it is essential that all sponsor opportunities are presented from the outset. This allows a potential sponsor to understand where other brands may appear around theirs.

All brands need to be presented in the style and manner that is 'on-brand' for them. As such it is vital that brand guidelines are provided by all sponsors. It is also vital that sponsors see proofs (a final computer draft before print/construction) of how their branding will appear.